There are 2 services that you need for a functioning site - a domain name plus a hosting plan for it. Each time you type the domain address in your Internet browser, you see the content that’s uploaded inside the web hosting account, but if that domain is not linked to such an account or to an e-mail service, it is parked. In other words, the Internet domain is registered and you are its owner, but it doesn't have any content of its own. Instead, it can open either a pre-made “Under Construction / For Sale” webpage from the registrar company, or it may be directed to any other URL of your choice. The main benefit of parking a domain is that you can keep it and make sure that nobody else is going to take it. In the meantime, it won't take a slot for a hosted domain inside your account. You could also park domains if you have a .com, for instance, and you register domains with other extensions like .net, .org or country-code ones to forward them to the main site so as to protect a brand name.